Opinions expressed by Entrepreneur contributors are their very own.
It isn’t arduous to inform when an worker is prepared for a job change. After I see people who find themselves so uninterested in their jobs that they are simply going by way of the motions or so sad that they begin complaining, making damaging feedback and getting snippy with everybody, I do know it is time for them to go.
If that sounds such as you, however you do not need to land in one other model of the identical unfulfilling scenario, it may very well be time to advertise your self from worker to boss because the proprietor of your personal enterprise — and franchising stands out as the good alternative for somebody with drive and ambition however not essentially the expertise of entrepreneurship.
At United Franchise Group (UFG), we’ve got about 1,600 franchisees in virtually 60 international locations, and most of them have transitioned from one other profession; many can achieve this with out having labored within the trade they’re investing in.
So, listed here are 5 causes to make your subsequent profession a franchise:
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1. You already know it really works
It is a contemporary begin in a confirmed enterprise mannequin, with a beautiful steadiness of threat and reward. Once you buy a franchise, you get an organization whose merchandise and processes have been examined and perfected in the actual world, with actual prospects and staff. Plus, you get the priceless energy of representing an already established model that is acknowledged and trusted.
2. You get invaluable coaching and help
Not like beginning an unbiased enterprise from scratch, becoming a member of a franchise offers you coaching, set-up help and help, together with shared sources like cooperative promoting and mass buying. At UFG, we additionally present assist discovering a location, negotiating a lease, constructing out a flooring plan and lots of different duties, with ongoing help so long as the franchisee is with us. We also have a mentor program in place that fosters a relationship between skilled, profitable enterprise homeowners and new homeowners. We imagine a longtime mentoring program is likely one of the most respected issues an organization can do.
Because of applications like these, you’ll be able to open your small business with a excessive consolation stage, so that you’re free to concentrate on constructing and rising your small business somewhat than engaged on so many duties that it takes time away from development.
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3. There is a franchise to suit virtually anybody
Firms in virtually each trade can be found as franchises, and also you’re prone to discover one which fits your persona, expertise and objectives.
In my expertise, all personalities work in franchising besides the “know-it-all” who refuses to comply with established procedures (and their maverick type would not work in lots of corporations, franchise or not). Following the system is critical, so in case your ego will not mean you can be taught from others, a franchise will not be best for you.
4. No expertise is critical
At our franchise manufacturers, our coaching and help techniques imply you do not have to come back from the trade you are investing in. Generally, lack of expertise is usually a profit; you are not bringing outdated habits which may go in opposition to your franchisor’s procedures.
You actually need to love the enterprise, nonetheless, and particularly what that enterprise can do for (or to) your way of life. I additionally counsel that you just select a enterprise you want or have some affinity for. If you cannot inform a monkey wrench from monkey bread, an auto restore franchise might be not for you. Look for a corporation the place you’ll be able to make the most of your strengths in gross sales, advertising and marketing, communications or expertise.
Earlier than making a ultimate determination, analysis the trade. Meet the franchisor and the workforce to get a intestine feeling about all of it, after which go to different homeowners. Go to their rivals, too, and communicate to professionals within the enterprise earlier than making a ultimate determination.
5. Franchisees nonetheless have management
Whereas company management does dictate that sure procedures be adopted, the franchisee nonetheless has loads of freedom and suppleness in managing their enterprise. Each workforce ought to embody administration, advertising and marketing, gross sales, manufacturing and expertise, however the best way these groups are utilized is as much as the franchisee. At UFG, we get our greatest concepts from our franchisees, so it is vital to offer them the liberty to make selections whereas balancing them with our profitable techniques.
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All companies ramp up in a different way relying on gross sales and bills, however the typical timeframe is six to eighteen months. That first 12 months or so is at all times the hardest for any form of enterprise, as you might be studying a brand new trade, hiring all new workers and discovering your approach. A franchise has most of the identical challenges, however with sources to make the expertise rather less overwhelming. As proprietor, you have got a guide to refer again to at any time, and you’ll at all times depend on company leaders and fellow franchisees to have your again.
Franchising offers you all the advantages of huge enterprise with the liberty of being an area proprietor. For those who’re contemplating taking a leap out of your present job, you’ll be able to rely on a security web that can assist you make a softer touchdown.